Today in crypto, the CME Group has announced plans to launch XRP futures contracts. Meanwhile, The Bitcoin Standard author and economist Saifedean Ammous suggested that President Donald Trump’s reversal on tariffs may reflect concerns over rising bond yields. In other news, Strike founder Jack Mallers plans to challenge Michael Saylor’s Strategy.
Chicago Mercantile Exchange Group to launch XRP futures
The Chicago Mercantile Exchange (CME) Group, which operates the largest financial derivatives exchanges worldwide, announced that XRP futures contracts will go live on May 19.
According to the April 24 announcement, investors have the option of choosing between micro-sized contracts, featuring 2,500 XRP, or standard contract sizes of 50,000 XRP. All XRP futures contracts will be cash-settled.
In January 2025, the CME Group signaled an impending launch of XRP futures before quietly pulling the related page from its website.
CME’s announcement is the latest in a growing wave of crypto-focused financial products entering the market or awaiting regulatory approval in the US, a sign that cryptocurrencies have reached a new level of institutional acceptance.
There are now more than 70 crypto ETF applications waiting to be reviewed by the SEC, according to Bloomberg ETF analyst Eric Balchunas.
Trump fought the bond market, the bond market won: Saifedean Ammous
Analysts are criticizing the financial implications of Trump’s import tariffs, a development that some say highlights Bitcoin’s (BTC) unique economic properties during times of global uncertainty.
Trump’s 90-day pause on higher reciprocal tariffs, reverting them to a 10% baseline for most countries except China, has exposed vulnerabilities in the US bond market, according to critics.
Economist and author of The Bitcoin Standard, Saifedean Ammous, said Trump’s decision to reverse the higher tariffs was likely a reaction to rising bond yields, suggesting the administration’s hand was forced.
“Trump fought the bond market and the bond market won,” Ammous said in an April 23 X post. “The gambit seemed to work for the first day, and the huge crash in the stock market was presented as a small price to pay for fiscal sustainability.
“But then the bonds began to crash, and it became clear how disastrous the tariffs were, and how wrong it was to expect that deliberately crashing the stock market would boost the bond market,” he added.
Strike’s Jack Mallers to head firm seeking superior Bitcoin play to MSTR
Twenty One Capital, a new Bitcoin treasury company led by Strike founder Jack Mallers with the support of Tether, SoftBank and Cantor Fitzgerald, is looking to supplant Michael Saylor’s Strategy to become the “superior vehicle for investors seeking capital-efficient Bitcoin exposure.”
Wow. @jackmallers absolutely smashed this interview.
— The Wolf Of All Streets (@scottmelker) April 23, 2025
Twenty One revealed it plans to launch with 42,000 Bitcoin (worth $3.9 billion) with roughly 23,950 BTC coming from Tether, 10,500 BTC from Softbank and 7,000 BTC from Bitfinex, which will be converted into equity at $10 per share, according to an April 23 statement.
“Our mission is simple: to become the most successful company in Bitcoin, the most valuable financial opportunity of our time. We’re not here to beat the market, we’re here to build a new one,” said Mallers, the founder and CEO of Bitcoin payments-focused firm Strike.
“A public stock, built by Bitcoiners, for Bitcoiners.”
#Heres #happened #crypto #today
